2557 Highway 25 South | Greenwood, SC
OFFERING MEMORANDUM NNN Lease Investment Opportunity Representative Image
Exclusively Marketed By: Sands Investment Group Doug Roland Lic # 73064
Sands Investment Group 844.4.SIG.NNN SIG SC Lic # 20891
706.814.2217 | DIRECT
[email protected]
www.SIGnnn.com
2557 Highway 25 South Greenwood, SC 29646
INVESTMENT SUMMARY
Investment Summary Investment Highlights
AREA OVERVIEW
Location & Area Maps Retail Map City Overview
TENANT PROFILE
Tenant Profile
LEASE ABSTRACT
Lease Summary Rent Roll
© 2016 Sands Investment Group (SIG). The information contained in this ‘Offering Memorandum,’ has been obtained from sources believed to be reliable. Sands Investment Group does not doubt its accuracy, however, Sands Investment Group makes no guarantee, representation or warranty about the accuracy contained herein. It is the responsibility of each individual to conduct thorough due diligence on any and all information that is passed on about the property to determine it’s accuracy and completeness. Any and all projections, market assumptions and cash flow analysis are used to help determine a potential overview on the property, however there is no guarantee or assurance these projections, market assumptions and cash flow analysis are subject to change with property and market conditions. Sands Investment Group encourages all potential interested buyers to seek advice from your tax, financial and legal advisors before making any real estate purchase and transaction.
INVESTMENT SUMMARY
OFFERING SUMMARY PRICE
$1,512,175
CAP
6.85%
NOI
$103,584
PRICE PER SF YEARS REMAINING LEASE GUARANTY
$152 8 Years Corporate
PROPERTY SUMMARY ADDRESS
2557 Highway 25 South Greenwood, SC 29646
COUNTY BUILDING AREA LAND AREA BUILT
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Greenwood 9,960 SF 1.15 Acres 2014
INVESTMENT HIGHLIGHTS
HIGHLIGHTS • New 2014 Build-to-Suit Construction • Corporate Guarantee • Outparcel to Food Lion Anchored Center • Minimal Landlord Responsibilities • 15 Year Roof Warranty (2014) • Three (3) x Five (5) Year Options • 5% Rental Increases at Options • Moody’s Ba2
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LOCATION MAP
AERIAL MAP
RETAIL MAP
AREA OVERVIEW
Street / Cross Road
Average Vehicles Per Day
Hwy 25 South
19,500
SUBJECT PROPERTY DEMOGRAPHICS Population Median Household Income
1 Mile
3 Mile
5 Mile
4,137
15,575
34,950
$26,362
$25,908
$33,330
AREA OVERVIEW
City Overview Greenwood is a small city in and the county seat of Greenwood County, South Carolina. Every year in June, Greenwood hosts the South Carolina "Festival of Flowers". The festival was originally started in 1968 as an outgrowth of Park Seed Corporation’s annual Grower Days, and Park Seed remains a major sponsor of the festival. The Festival has also included jazz concerts, Cessna flights for children, world food, a showcase for classic cars, and even a dog show. There is also a medical symposium, hosted by Self Regional Healthcare during the festival. This event draws many gardening enthusiasts from around the nation. The second weekend in July, the Uptown Greenwood Development Corporation hosts the South Carolina “Festival of Discovery.” This is a weekend of food, fun, music, and much more as you experience and learn about the history, traditions, folklore, arts and crafts, music and dance, and vernacular of Greenwood and the South Carolina Upstate area. The festival includes a Kansas City Barbeque Society sanctioned and South Carolina State Championship cook-off featuring some the best BBQ teams in the country. In addition, the Festival honors the Greenwood cooking tradition of black kettle hash. Also celebrated during the weekend is the rich sound of and tradition of the blues. The Greenwood Blues Cruise features Blues music at seven different venues in the downtown area.
TENANT PROFILE
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Dollar Tree, Inc. is an American chain of discount variety stores that sells items for $1 or less. A Fortune 500 company, Dollar Tree is headquartered in Chesapeake, Virginia and operates 13,600 stores throughout the 48 contiguous U.S. states and Canada. Its stores are supported by a nationwide logistics network of ten distribution centers. The company operates one dollar stores under the names of Dollar Tree and Dollar Bills. The company also operates a multi price-point variety chain under the name Deals. Dollar Tree competes in the dollar store and low-end retail markets. Each Dollar Tree stocks a variety of products including national, regional, and private-label brands. Departments found in a Dollar Tree store include health and beauty, food and snacks, party, seasonal décor, housewares, glassware, dinnerware, household cleaning supplies, candy, toys, gifts, gift bags and wrap, stationery, craft supplies, teaching supplies, automotive, electronics, pet supplies, and books. Most Dollar Tree stores also sell frozen foods and dairy items such as milk, eggs, pizza, ice cream, frozen dinners, and pre-made baked goods. In August 2012, the company began accepting manufacturer's coupons at all of its store locations.
LEASE SUMMARY
LEASE ABSTRACT
TENANT PREMISES LEASE COMMENCEMENT LEASE EXPIRATION LEASE TERM RENEWAL OPTIONS RENT INCREASES
A Building of Approximately 9,960 SF in Greenwood, SC 2/1/2014 1/31/2024 8 Years Remaining (3) X 5 Year 5% at Each Option
LEASE TYPE
NNN
USE
Retail
PROPERTY TAXES
Tenant’s Responsibility
INSURANCE
Tenant’s Responsibility
COMMON AREA
Tenant’s Responsibility
ROOF & STRUCTURE
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Dollar Tree
Landlord’s Responsibility
REPAIRS & MAINTENANCE
Tenant’s Responsibility
HVAC
Tenant’s Responsibility
UTILITIES
Tenant’s Responsibility
RIGHT OF FIRST REFUSAL/ OFFER
No
RENT ROLL
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SIZE
MONTHLY RENT
LEASE TERM
TENANT NAME
SQUARE FOOTAGE
% OF TOTAL
MONTHLY BASE RENT
RENT / SF
% OF TOTAL
INCREASE DATES
RENTAL INCREASE
LEASE BEGIN
LEASE END
OPTIONS
Dollar Tree
9,960 SF
100%
$8,632
$.86
100%
At Options
5%
2/1/2014
1/31/2024
(3) 5 Year
CONFIDENTIALITY AGREEEMENT The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Sands Investment Group and should not be made available to any other person or entity without the written consent of Sands Investment Group. This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, Sands Investment Group has not verified, and will not verify, any of the information contained herein, nor has Sands Investment Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. By receipt of this Memorandum, you agree that this Memorandum and its contents are of confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose its contents in any manner detrimental to the interest of the Owner. You also agree that by accepting this Memorandum you agree to release Sands Investment Group and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.
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Exclusively Marketed By: Doug Roland Lic # 73064 706.814.2217 | DIRECT
[email protected] 844.4.SIG.NNN | F: 844.328.5905 |
WWW.SIGNNN.COM | 2701 OCEAN PARK BLVD, SUITE 140 | SANTA MONICA, CA 90405